HCL Technologies, the Noida-based software and services firm, posted 12.3% QoQ growth in net profit at Rs 2,325 crore for its fourth quarter, a strong performance among waning results for the IT majors. HCL said that its revenue logged in at Rs 12,053 crore, up 2% quarter-on-quarter and 12.7% year-on-year. 

HCL saw substantial client growth during the quarter, and growth in verticals like IT security and cloud. Biggest growth in verticals was in public services at 31.3%, which was boosted by growing IT spending in government, retail & consumer packaged goods at 21.4%, and manufacturing at 17%.

The consumer electrical goods company Havells India reported a sharp decline in its standalone net profits for Q4, which fell by 74.1% to Rs. 94.7 crore. The company had reported a net profit of Rs. 365.7 crore in the same quarter last year. Revenues for the quarter were up 17.22%, to Rs. 1,873.4 crore. 

This is the first time in seven quarters that the company is seeing a decline in net profits. The firm also saw an exceptional loss of Rs 76.76 crore during the quarter. Rs 62.1 crore of this amount was an impairment loss, caused by the decline in business of Havells Holdings Ltd. and Rs 14.66 crore was due to the termination of a Joint Venture agreement in Jiangsu Havells Sylvania Lighting Company. Havells India is exiting its overseas business.